Ramesh invests ₹ 12800 for three years at the rate of $10 %$ per annum compounded annually. Find the sum Ramesh receives at the end of the first year.

₹15060

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₹14000

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₹14080

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₹13090

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Solution

The correct option is C
₹14080

Principal = ₹ $12800,$ Rate $= 10 %$

Interest for one year $= \frac{P \times r \times t}{100} = \frac{(12800 \times 10 \times 1)}{100} = ₹ 1280$

So, sum due after one year $= 12800 + 1280 = ₹ 14080$

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Ramesh invests ₹12800 for three years at the rate of 10% per annum compound interest. Find the sum due to Ramesh at the end of the first year.

Ramesh invests Rs.12800 for three years at the rate of $10 %$ per annum compound interest. Find the sum due to Ramesh at the end of the first year.

Ramesh invests ₹ 12800 for three years at the rate of $10 %$ per annum . Find the sum due to Ramesh at the end of the first year.

12800

10 %

Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find:

(i) the sum due to Ramesh at the end of the first year.

(ii) the interest he earns for the second year.

(iii) the total amount due to him at the end of the third year.

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